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Platinum Asset: Reinstated Sell at Bell Potter; price target of $2.22Aurizon reduces dividend, confirms guidanceRail and logistics company Aurizon has reduced its interim dividend to preserve cash ahead of the $2.4 billion One Rail Australia acquisition.
EBITDA from coal haulage benefited from higher prices and strong cost management, but the Aurizon Network business had to pay $49 million in fees for the Wiggins Inland Rail Project. Without this fee, group EBITDA would have been up by 5 per cent. In its 2022 half-yearly results announced today, the ASX-listed online marketplace for automotives said it was paying out a fully franked interim dividend of 25.5¢ per share.
Beach, whose biggest shareholder is media billionaire Kerry Stokes’ Seven Group Holdings, told investors on Monday that higher realised prices during the six months to December 31 had helped drive a 10 per cent increase in revenue, even as its production volumes fell by 15 per cent for the period. “We had previously stated financial year 2022 was going to be a pivotal year in Beach’s transformation, and I’m proud of what we have achieved so far.”
However, net interest margins also fell by 14 basis points compared to the June half, to 2.09 per cent. Bendigo will pay a fully franked interim dividend of 26.5c a share, which is lower than the 28c share payment of this time last year, but the same as its payment for the June half.Electronics giant JB Hi-Fi will return $250 million to shareholders via a share buyback following another set of strong financial results despite supply chain delays and the Omicron outbreak.
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